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Query Details

Asked by Prashant on :Jul. 12, 2018

I purchased house on loan. House is se…

I purchased house on loan. House is self-occupied. Is there any additional deduction for…

I purchased house on loan. House is self-occupied. Is there any additional deduction for the interest payment on a loan than section 24?

0

Jeeba Jul. 12, 2018

You can claim a deduction for the interest paid on house loan. Section 24 allows a deduction up to 2 lacs.

In addition to this, you can also claim a deduction under section 80EE. The maximum deduction allowable is 50,000. The deduction of up to 50,000 under section 80EE is over and above the deduction of up to 2,00,000 available under section 24 for interest paid in respect of a loan
borrowed for acquisition of a self-occupied property.

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